by The biotech company and the pharmaceutical giant want to develop and market a drug with a unique approach for the prevention and treatment of Covid-19. Keystone/Alexandra Wey Swiss pharmaceutical company Novartis says it has signed a deal with biotech firm Molecular Partners to develop, manufacture and commercialise an anti-Covid-19 treatment drug. The Basel-based company said the option and licence agreement was aimed at boosting a programme consisting of two antiviral therapeutic candidates, MP0420 and MP0423. “It is clear that this pandemic calls for not just scientific solutions, but also for collaboration between companies to provide treatments in an area of high unmet need,” Novartis said in a statement published on Wednesday. Molecular Partners will be
Topics:
Swissinfo considers the following as important: 3) Swiss Markets and News, 3.) Swiss Info, Business, Featured, newsletter
This could be interesting, too:
RIA Team writes The Importance of Emergency Funds in Retirement Planning
Nachrichten Ticker - www.finanzen.ch writes Gesetzesvorschlag in Arizona: Wird Bitcoin bald zur Staatsreserve?
Nachrichten Ticker - www.finanzen.ch writes So bewegen sich Bitcoin & Co. heute
Nachrichten Ticker - www.finanzen.ch writes Aktueller Marktbericht zu Bitcoin & Co.
The biotech company and the pharmaceutical giant want to develop and market a drug with a unique approach for the prevention and treatment of Covid-19. Keystone/Alexandra Wey
Swiss pharmaceutical company Novartis says it has signed a deal with biotech firm Molecular Partners to develop, manufacture and commercialise an anti-Covid-19 treatment drug.
The Basel-based company said the option and licence agreement was aimed at boosting a programme consisting of two antiviral therapeutic candidates, MP0420 and MP0423.
“It is clear that this pandemic calls for not just scientific solutions, but also for collaboration between companies to provide treatments in an area of high unmet need,” Novartis said in a statement published on Wednesday.
Molecular Partners will be responsible for the conduct of phase 1 and 2 trials.
Under the terms of the agreement, Molecular Partners will receive an initial payment of CHF60 million ($66.1 million). If Novartis takes up the option to both drugs, it will pay another CHF150 million to the biotech company.
In August, the Swiss government signed an agreement with Molecular Partners for priority access to a drug being developed to treat those severely ill with Covid-19.
It gives Switzerland access to the first 200,000 doses of the medicine, as well as up to three million further doses when requested.
You Might Also Like
Swiss sustainable finance: world leader or wishful thinking?
The Swiss financial centre wants to take a lead in ethical investing. NGOs, however, fear the banks are more interested in cashing in than saving the planet. One thing everyone agrees on is the need for a universal definition of sustainable finance and measures to oversee the sector.
Tour group blames coronavirus for 70 Swiss job cuts
German tour operator TUI is to close eight of its 62 branches in Switzerland with the loss of around 70 jobs, owing to the effects of the coronavirus crisis.
Julius Baer to offer private equity to ultra-wealthy clients
Julius Baer has poached a senior executive from rival Swiss wealth manager UBS to set up a new division offering private equity and debt investments to its ultra-wealthy clients. The move illustrates how a prolonged period of low interest rates has forced the likes of UBS and Credit Suisse to prioritise offering illiquid private investments to their super-rich clients, who agree to forgo access to their capital in the hope of achieving higher returns.
Swiss International Air Lines’ turnover halved due to coronavirus
The economic repercussions of the coronavirus have caused turnover at SWISS to fall by 55% in the first half of 2020. With a turnover of CHF1.17 billion ($1.28 billion) between January and the end of June, the carrier suffered an operating loss of CHF266.4 million in the first half of the year, following an operating profit of CHF245.3 million a year earlier.
Families face large differences in tax rates across Switzerland
A comparison of tax rates across different cantons and cities found that Zug – home to many multinational companies – offers the most attractive tax regime for families.
Pandemic speeds up push to digital as bank branches close
Swiss lender Credit Suisse is set to launch an overhaul of its digital banking offering, as it uses the coronavirus crisis as a springboard to accelerate the push from bricks-and-mortar branches to online services.
Swiss regulator censures Bank Syz over money laundering
The Swiss financial market regulator FINMA has reprimanded Bank Syz for breaching money laundering rules involving a business relationship with an Angolan client.
Roche poised to launch mass Covid testing
Swiss drug firm Roche says it is to launch a new Covid-19 antigen test before the end of the year, allowing faster, higher-volume testing. One of the most potent use cases could be at airports to ease the severe restrictions on air transport.
Tags: Business,Featured,newsletter